Active, regular full-time Certified Public Accountants of the California Society of CPAs and their eligible employees working at least 30 hours per week are eligible for coverage.
Dependents are not eligible for coverage.
100% of active, regular full-time employees working at least 30 hours per week must be covered.
Return to Work Incentive
During the benefit period, current earnings will reduce the monthly benefit only to the extent that current earnings, other benefits, and the monthly benefit do not exceed 100% of the eligible employee’s monthly rate of basic earnings. “Other benefits” include statutory benefits, workers’ compensation, Social Security, sick pay, and salary continuation.
Employer-paid premium is on a pre-tax basis, meaning that no taxes are paid on the disability premium. The result is a disability benefit that is taxed, and therefore reduced. Employers wanting to provide a non-taxed benefit for their employees utilize a post-tax premium payment method, generally referred to as a “gross-up’ plan. In this scenario, the employer adds the disability premium to all employees’ gross salaries and deducts the disability premium on a post-tax basis. The result is a taxable premium and an untaxed benefit.